Reference Rating is the rating for the Borrower’s senior, unsecured long-term indebtedness for borrowed money that is not guaranteed by any other person or entity.
Reference Rating means the ratings assigned by S&P and Moody's to the senior unsecured non-credit enhanced long-term debt of the Borrower. If such ratings assigned by S&P and Moody's are not comparable (i.e., a "split rating"), and (i) the ratings differential is less than two levels, then the higher of such two ratings shall control or (ii) the ratings differential is two levels or more, then the ratings one below the higher of such two ratings shall control, unless either rating is below BBB- (in the case of S&P) or Baa3 (in the case of Moody's), in which case the lower of the two ratings shall control.
Reference Rating is the credit rating assigned to the Revolving Loans by the relevant rating agency; provided that until such time as Moody’s assigns an initial rating to the Revolving Loans, the Mxxxx’x rating of the Existing Facility shall be deemed its Reference Rating. The rating in effect for any day is that in effect at the close of business on such day.
Examples of Reference Rating in a sentence
If there exists only one Reference Rating, such Reference Rating will be used to determine the commitment fee.
The Reference Rating Form assesses multiple aspects of the applicant’s experience and suitability.
The EMT must find two EMCIs willing to complete Reference Rating Forms in support of the application.
Please note that if the applicant does not waive his or her rights to have access to this Reference Rating, the information you provide may be shared with the applicant, if requested.
Promptly and in any event within seven Business Days after Xxxxx'x or S&P has changed any relevant Reference Rating, notice of such change.
More Definitions of Reference Rating
Reference Rating by S&P, Fitch or Moody’s shall mean, on any date of determination, the most recently announced long-term, senior unsecured non-credit enhanced debt rating of the Borrower issued by S&P, Fitch or Moody’s, respectively.
Reference Rating means (i) the ratings assigned by S&P and Moody's to the senior unsecured non-credit enhanced long-term debt xx the Borrower, or (ii) if S&P and Moody's have not assigned ratings to the senior unsecured xxx-xxxdit enhanced long-term debt of the Borrower, the ratings that are one level below the ratings assigned by S&P and Moody's to the senior unsecured non-credit enhanced long-term xxxt of TE Products. For purposes of the foregoing, (x) if the ratings assigned by S&P and Moody's are not comparable (i.e., a "split rating"), the hxxxxx xf such two ratings shall control, unless either rating is below BBB- (in the case of S&P) or Baa3 (in the case of Moody's), in which case the lower of the two ratings shall control, xxx (y) for purposes of illustration an S&P rating of BBB will be considered to be "one level below" an S&P rating, of BBB+.
Reference Rating means (i) the ratings assigned by S&P and Moody's to the senior unsecured non-credit enhanced long-term debt of the Borrower, or (ii) if S&P and Moody's have not assigned ratings to the senior unsecured non-credit enhanced long-term debt of the Borrower, the ratings that are one level below the ratings assigned by S&P and Moody's to the senior unsecured non-credit enhanced long-term debt of TE Products. For purposes of the foregoing, (x) if the ratings assigned by S&P and Moody's are not comparable (i.e., a "split rating"), the higher of such two ratings shall control, unless either rating is below BBB- (in the case of S&P) or Baa3 (in the case of Moody's), in which case the lower of the two ratings shall control, and
Reference Rating means (i) the ratings assigned by S&P and Moody’s to the senior unsecured non-credit enhanced long-term debt of the Borrower, or (ii) if S&P and Moody’s have not assigned ratings to the senior unsecured non-credit enhanced long-term debt of the Borrower, the ratings that are one level below the ratings assigned by S&P and Moody’s to the senior unsecured non-credit enhanced long-term debt of TE Products. For purposes of the foregoing, (x) if the ratings assigned by S&P and Moody’s are not comparable (i.e., a “split rating”), the higher of such two ratings shall control, unless the split in ratings is two or more ratings, in which case the level above the lower of the two ratings shall control, and (y) for purposes of illustration an S&P rating of BBB will be considered to be “one level below” an S&P rating of BBB+.
Reference Rating has the meaning assigned to that term on Annex 1 hereto.
Reference Rating means (i) the ratings assigned by S&P and Moodx'x xx the senior unsecured non-credit enhanced long-term debt of the Borrower, or (ii) if S&P and Moodx'x xxxe not assigned ratings to the senior unsecured non-credit enhanced long-term debt of the Borrower, the ratings that are one level below the ratings assigned by S&P and Moodx'x xx the senior unsecured non-credit enhanced long-term debt of TE Products. For purposes of the foregoing, (x) if the ratings assigned by S&P and Moodx'x
Reference Rating by S&P, Fitch or Xxxxx’x shall mean, at any time, the then in effect rating with respect to Exelon’s senior unsecured long-term public debt securities without third-party enhancement issued by S&P, Fitch or Xxxxx’x, respectively.